Exempts senior citizens and blind or disabled persons from certain realty transfer fees.
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Progress
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- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill exempts senior citizens, blind individuals, and disabled persons from certain real estate transfer fees in New Jersey. Specifically, it waives the State portion of the basic fee when a senior citizen, blind person, or disabled person sells their owner-occupied home or purchases a home. It also provides exemptions for low and moderate income housing sales and new construction up to $150,000. The fees collected from exempted transactions will be directed to the New Jersey Affordable Housing Trust Fund.
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